Vivek Ramaswamy offloads $33M Roivant stock
Jan. 04, 2024 2:57 PM ETRoivant Sciences Ltd. (ROIV) Stock
By: Dulan Lokuwithana, SA News Editor
The U.S. presidential hopeful Vivek Ramaswamy sold more than $33M worth of shares of Roivant Sciences (NASDAQ:ROIV), the U.K.-based biotech he founded, the Republican candidate disclosed in a regulatory filing on Wednesday.
Ramaswamy, who is currently trailing former president Trump, Florida Gov. Ron DeSantis, and former UN ambassador Nikki Haley in his presidential bid, reported the sale less than two weeks before the GOP primaries kick off in Iowa.
Part of the proceeds will be channeled towards a "significant investment" in his campaign, Axios reported, citing a spokesperson for Ramaswamy.
According to the SEC filing, Ramaswamy sold 3M ROIV shares for $11.05 apiece on Tuesday in a transaction valued at $33.2M. He continues to own ~51.9M Roivant (ROIV) shares.
Ramaswamy, who led ROIV until January 2021, last sold ~$31.8M worth of company shares in February 2023, just after resigning from its board and chairmanship to focus on his presidential bid.
